|
Carsten Ernst
WirtschaftsTreuhand
GmbH / Germany
|
|
AGN EMEA Excellent+NextGen - Webinar #1
Corporate Sustainability Reporting (CSR)
16th December I 13:00 - 14:00 CET
REGISTER NOW!
|
|
Dear {#party.FirstName},
Why are small and medium-sized companies increasingly concerned with the question of how they can report on their sustainability activities in a structured and transparent manner?
So far, there is no reporting obligation for these companies. If the draft of the EU CSR Directive is implemented 1:1 (which is currently questionable) and this Directive is then also implemented 1:1 into the respective national law of the EU member states (which is likely to be even more questionable), then companies with more than 250 employees would have to prepare a sustainability report from 2023.
But in my opinion, this topic is not at all about the question of whether companies have a formal obligation to prepare a sustainability report or not. In the coming years, personal motives and the de facto compulsion of the markets will lead to medium-sized companies also dealing intensively with the topic of sustainability reporting. These include the following factors in particular:
Personal Concern
It is a personal concern of entrepreneurs to make a contribution to climate protection through measures in the area of sustainability.
Image and Reputation
Through an appropriate commitment to sustainability (and through appropriate reporting/communication to the outside world), the image and reputation of the company and the entrepreneurial family in the region increases.
Further Benefits
Further benefits may also be available in the following areas:
a. Employee retention and recruitment
b. Customer retention and acquisition
c. Rating & Financing ("green capital")
d. Optimisation of the profit situation through resource efficiency, cost savings, reduction of energy costs, state subsidies and grants
e. License to Operate
f. Value enhancement of the building stock through energy refurbishment/reduction of energy consumption
Large companies already report comprehensively and in a structured manner on their activities in the area of sustainability - this will also reach medium-sized companies.
Sooner or later, sustainability reporting will become an integral part of corporate reporting (like the annual financial statements and the management report today) - either due to pressure from the market or stakeholders or due to corresponding legislation.
As auditors and consultants to medium-sized companies, we should be aware of this and not leave our clients alone on the road to sustainability reporting.
Should you ever lose track of the big picture, my colleagues and I from the AGN EMEA Accounting, Auditing & Education Committee (AAEC) will be happy to help and guide you safely through the IFRS and CSR jungle. As a member of AGN International, you can make use of the AGN AAEC Helpline at any time or contact me by email at [email protected] or by mobile phone at +49 173 8710322.
Happy accounting,
Carsten
Carsten Ernst
Managing Partner at Wirtschafts Treuhand Group, Stuttgart, Germany |
|
|
- Serves as accounting counsel focused on International Financial Reporting Standards (IFRS)
- Provides AGN members with support in the context of specific transactions
- University Degree in Business Administration
|
|
- German Public Auditor and Tax Consultant
- Member of the following AGN bodies: EMEA
Board of Directors (Vice-Chairman), EMEA AAEC
Accounting and Auditing Committee (Chairman) and IACC International Auditing and Accounting Committee
|
Copyright © 2021 AGN International Ltd. All rights reserved. No part of this publication may be reproduced, distributed, or transmitted by non-members without prior permission of AGN International Ltd.
As a reminder, please add [email protected] to your safe senders list to make sure you receive these emails from AGN. We strive to send out communications that work on all devices our members use. Occasionally a link or graphic has a technical failure. Please email
[email protected] to advise us if any communication from us does not work on your device.
If you no longer wish to receive the AAEC Newsletter (GLOBAL IFRS Newsletter), please unsubscribe by managing your AGN profile communication preferences.
|